Kansas City Life Insurance Co. on Wednesday reported a decrease in third-quarter revenue but a higher profit compared with results a year earlier.
For the three months ending Sept. 30, the Kansas City-based insurer generated $115.7 million in revenue, down from $119.4 million in the third quarter of 2013.
Net income climbed to $7.8 million during the quarter, up $700,000 from the same quarter last year. Kansas City Life attributed the improvement to decreases in operating expenses, net death benefits and interest credited to policyholder account balances.
For the first nine months of this year, Kansas City Life had a profit of $21.7 million on revenue of $347.3 million, compared with a profit of $23.1 million on revenue of $364.1 million a year earlier.
| The Star